Analysts Set Innergex Renewable Energy Inc. (TSE:INE) Price Target at C$12.56

Innergex Renewable Energy Inc. (TSE:INE - Get Free Report) has been assigned a consensus recommendation of "Moderate Buy" from the ten brokerages that are covering the stock, Marketbeat reports. Five investment analysts have rated the stock with a hold recommendation and five have issued a buy recommendation on the company. The average 12-month price target among analysts that have updated their coverage on the stock in the last year is C$12.56.

Several brokerages recently weighed in on INE. Cibc World Mkts raised Innergex Renewable Energy to a "hold" rating in a report on Monday, July 22nd. CIBC boosted their price objective on Innergex Renewable Energy from C$11.00 to C$11.50 and gave the company a "neutral" rating in a report on Monday, July 22nd. TD Securities lowered Innergex Renewable Energy from a "buy" rating to a "hold" rating and set a C$10.00 price objective for the company. in a report on Friday, July 26th. BMO Capital Markets boosted their price objective on Innergex Renewable Energy from C$11.00 to C$11.50 in a report on Thursday, September 5th. Finally, Cormark downgraded Innergex Renewable Energy from a "moderate buy" rating to a "hold" rating in a research note on Friday, August 9th.

Innergex Renewable Energy Stock Down 1.9 %

TSE:INE traded down C$0.17 during mid-day trading on Wednesday, hitting C$9.00. The company had a trading volume of 564,787 shares, compared to its average volume of 646,511. The business has a fifty day simple moving average of C$9.64 and a 200-day simple moving average of C$9.54. The company has a current ratio of 0.57, a quick ratio of 0.58 and a debt-to-equity ratio of 428.86. Innergex Renewable Energy has a 1 year low of C$7.05 and a 1 year high of C$10.96. The firm has a market capitalization of C$1.82 billion, a price-to-earnings ratio of -14.11, a PEG ratio of 20.61 and a beta of 0.36.

Innergex Renewable Energy (TSE:INE - Get Free Report) last announced its earnings results on Wednesday, August 7th. The company reported C($0.03) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of C($0.02) by C($0.01). Innergex Renewable Energy had a negative return on equity of 9.27% and a negative net margin of 11.96%. The business had revenue of C$239.51 million for the quarter, compared to analysts' expectations of C$256.60 million. Equities analysts forecast that Innergex Renewable Energy will post 0.1549878 earnings per share for the current fiscal year.

Innergex Renewable Energy Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, October 15th. Shareholders of record on Tuesday, October 15th were paid a dividend of $0.09 per share. This represents a $0.36 annualized dividend and a yield of 4.00%. The ex-dividend date was Friday, September 27th. Innergex Renewable Energy's dividend payout ratio (DPR) is currently -55.38%.

Innergex Renewable Energy Company Profile

Innergex Renewable Energy Inc operates as an independent renewable power producer in Canada, the United States, France, and Chile. It acquires, owns, develops, and operates renewable power-generating and energy storage facilities primarily in hydroelectric, wind, and solar power sectors. The company operates through three segments: Hydroelectric Power Generation, Wind Power Generation, and Solar Power Generation.